Tabcorp H1 revenue rises 1 percent

    Tabcorp said its first-half revenue gained 1 percent to A$1.04 billion, while adjusted net profit after tax was up 4 percent to $74.6 million. Total Wagering business revenues, including the Victorian Racing Industry’s interest, grew 1.3%. However, after accounting for the allocation to the Victorian Racing Industry under the new 50/50 Joint Venture arrangements, from 75/25 previously, wagering revenues were $809.2 million, down 0.7%. EBITDA for Wagering was $140.6 million, up 2.0%. “In the context of a relatively subdued retail environment, we achieved overall earnings growth, supported by good cost control,” chief executive officer David Attenborough said.